Financial Conditions (November 2021)

Monetary Aggregates   For the month of November 2021, the monthly growth rates of the monetary aggregates M1B and M2 (measured on a daily average basis) were 1.03% and 0.96%, respectively, both higher than those of the previous month. The annual growth rates of M1B and M2 decreased to 14.18% and 8.26%, respectively, mainly because of slower annual growth in bank loans and investments. For the first eleven months of this year, the average annual growth rates of M1B and M2 were 16.64% and 8.78%, respectively.

Loans and Investments of Financial Institutions   At the end of November 2021, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.44%, higher than that at the end of the previous month. Meanwhile, the annual growth rate decreased from 8.18% at the end of the previous month to 8.12% mainly because of slower growth in bank claims on the government and the private sector. If loans and investments extended by life insurance companies and loans reclassified and written off by monetary financial institutions were all taken into account, the total outstanding loans and investments of financial institutions would show an annual growth rate of 6.93%, higher than the 6.91% registered at the end of the previous month.

Notes:

1. The next Financial Conditions (December 2021) is scheduled for release at 16:20 on January 24, 2022.

2. For the release schedule for the coming months, please check the Advance Release Calendar.